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PRIME BANCORP, INC. REPORTS ACQUISITION

 PHILADELPHIA, Aug. 30 /PRNewswire/ -- Prime Bancorp, Inc. (NASDAQ-NMS: PSAB) reported today the acquisition of a $23 million bank branch office from the Resolution Trust Corporation.
 The office is located in the Fishtown section of Philadelphia and was formerly the Penn Treaty branch of Home Unity.
 President and CEO Erwin T. Straw commented: "We're very excited about gaining our twelfth office in the Philadelphia region. Prime strongly believes in Philadelphia's neighborhoods, and Fishtown is one of its oldest and best. We think we can provide a high level of community banking services to the people and businesses in the neighborhood. We also expect the new branch to quickly generate a good economic return."
 Prime Bancorp, Inc. is headquartered in Philadelphia. Prime Bank, the corporation's primary subsidiary, is a federally chartered savings bank, which is insured by the Savings Association Insurance Fund (SAIF) which is administered by the Federal Deposit Insurance Corporation (FDIC). The bank conducts business at 11 other branch locations concentrated in Northeast Philadelphia, lower Bucks County, and eastern Montgomery County. Prime Bancorp, Inc. had total assets of $406.6 million, total deposits of $338.4 million, and total net loans of $292.8 million as of the close of business June 30, 1993.
 /delval/
 -0- 8/30/93
 /CONTACT: Erwin T. Straw, president and CEO of Prime Bancorp, 215-742-5300/
 (PSAB)


CO: Prime Bancorp, Inc.; Resolution Trust Corporation ST: Pennsylvania IN: FIN SU: TNM

MP-LJ -- PH002 -- 6963 08/30/93 09:14 EDT
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Publication:PR Newswire
Date:Aug 30, 1993
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